The Emergence Of 5G Connectivity Technology, And Growing Use Of Iiot Gateway Utility Industry Due To Various Features To Drive The Global IIOT Gateway for Utility Market

Market Research Future (MRFR) will be publishing a cooked research report on the “Global IIOT Gateway for Utility Market” that contains information from 2018 to 2030. 

MRFR recognizes the following companies as the key players in the global IIOT Gateway for Utility market: Intel Corporation (US), Cisco System, Inc. (US), Advantech Co., Ltd. (Taiwan), ASUS Tek Computer Inc. (Taiwan), Hewlett Packard Enterprise Co. (US), Huawei Technologies Co., Ltd. (China), Siemens AG (Germany), Super Micro Computer, Inc. (US), NXP Semiconductors (Netherlands), and Dell Technologies Inc. (US).

Market Highlights

The global IIOT Gateway For Utility market has been growing significantly over the past few years. It is expected to reach USD 189.8 million by 2030, at a CAGR of 17.1% during the forecast period, 2022–2030.

IIoT Gateways are meant to securely connect to the internet/cloud via WiFi, LAN, or cellular transmission; this connectivity enables relevant data to be extracted from legacy devices in the industry. Industrial IoT Gateways are built to last and are intended for use in critical systems and industrial environments where sensor nodes or I/O devices collect data. IIoT Gateways can be designed to communicate with these end sensing nodes or I/O devices using a variety of different protocols. The widespread use of IoT in the utility industry provides a chance to more effectively monitor and control energy, minimize energy waste, and, ultimately, increase safety and operational efficiency while conserving natural resources. With the ability to forecast management, the steady and safe transmission of energy is now possible.

Industrial IoT gateways are moving from simple devices that bridge OT and IT networks to intelligent edge-computing systems that can learn, react, and control edge environments. I&O leaders must choose IIoT gateways that are modular and meet specific safety, security, and performance requirements.

COVID-19 Impact Analysis

Major Tier I and II providers in the IIoT gateway for the utility market include Advantech Co. Ltd., ASUSTeK Computer Inc., Cisco Systems Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Intel Corp., NXP Semiconductors NV, Siemens AG, Super Micro Computer Inc., and others. These vendors have manufacturing sites in North America, Latin America, Europe, Asia, and the rest of the world. COVID-19 has also had an influence on their enterprises. The global coronavirus outbreak has caused widespread anxiety and economic hardship for consumers, businesses, and communities. The crisis presents various new obstacles to market participants.

COVID-19 had a negative influence on the IIoT gateway for utility markets since companies restricted their investment in the latest technology and services to remain competitive. Because the production and supply chain are disrupted, the pandemic only affects it temporarily. Following the pandemic, the situation improves, and output, supply chains, and demand for the IIoT gateway for utilities will rise during the forecast period.

Segment Analysis

The global IIOT Gateway for Utility market has been segmented on the basis of components, connectivity technology, application, and region.

By component segment, the market is further bifurcated into Microcontroller Units, Field Programmable Gate Arrays, sensors, Memory, and Others.

Based on connectivity technology, the market is further bifurcated into Bluetooth, Wi-Fi, ZigBee, ethernet, z-wave, and others.

Based on the application, the market is further bifurcated into power utilities, gas utilities, water utilities, transportation, smart cities, and others.

Based on region the market has been segmented into North America, Europe, Asia-Pacific, Middle East, and Africa, and South America.

Key Findings of the Study:

The global IIOT Gateway For Utility market has been growing significantly over the past few years. It is expected to reach USD 189.8 million by 2030, at a CAGR of 17.1% during the forecast period, 2022–2030.

North America’s value is further increased by the significant demand from the power utility industries as well as modern IIOT Gateway for Utility trends brought on by the widespread deployment of 5G technology in the region. It is anticipated that the North American IIOT Gateway for Utility market will continue to dominate during the evaluation period.

Asia-Pacific is the fastest growing region, China is the key market for the industrial IoT gateway market in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rising need for smart infrastructure is expected to foster the growth of the industry, which will facilitate the industrial IoT gateway market growth in Asia-Pacific over the forecast period.

The US is the major market for IIOT gateways.